Sawtooth Solutions LLC Increases Holdings in Public Service Enterprise Group Inc. (PEG)

Sawtooth Solutions LLC raised its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 75.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,765 shares of the utilities provider’s stock after acquiring an additional 6,770 shares during the period. Sawtooth Solutions LLC’s holdings in Public Service Enterprise Group were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Grove Bank & Trust grew its stake in shares of Public Service Enterprise Group by 209.4% in the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,539 shares in the last quarter. Avestar Capital LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $106,000. Prentiss Smith & Co. Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $113,000. Gradient Investments LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $163,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $185,000. Institutional investors own 68.33% of the company’s stock.

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A number of brokerages have commented on PEG. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS began coverage on shares of Public Service Enterprise Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $52.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, March 8th. Mizuho reissued a “hold” rating and issued a $47.00 price objective on shares of Public Service Enterprise Group in a research note on Friday, March 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $52.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, March 14th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $51.23.

Public Service Enterprise Group Inc. (PEG) opened at $48.26 on Friday. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87. The company has a market cap of $24,425.56, a PE ratio of 16.51, a P/E/G ratio of 3.95 and a beta of 0.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Public Service Enterprise Group had a net margin of 17.33% and a return on equity of 11.25%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $0.54 EPS. analysts predict that Public Service Enterprise Group Inc. will post 3.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.73%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 7th. Public Service Enterprise Group’s payout ratio is 58.06%.

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.00, for a total value of $1,062,483.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 62,499 shares of company stock valued at $3,137,658. 0.58% of the stock is owned by corporate insiders.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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